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Real estate tax is easy pickings for lazy politicians


Real estate tax is easy pickings for lazy politicians
Property: it’s an easy target for increased taxation at a time when governments face insatiable demand for services but slower growth in the traditional tax bases.
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One of the curious aspects of the Victorian government’s latest property tax proposals is the amount of money Treasurer Tim Pallas estimates the new windfall gains tax will actually raise.
The estimation – $40 million a year, according to the government’s release – seems low for a tax that aims to reclaim half of the valuation upside from most major rezonings.
Owners, and their tenants, contributed more than $35 billion in stamp duty, land tax and other state government charges in 2018-19, a figure around 50 per cent of state government revenue.  ....

Dominic Perrottet , Danni Hunter , David Harrison , Property Council , Property Council Victorian , Charter Hall Group , Prime Minister , Economic Significance , Property Industry , Australian Economy , Growth Areas Infrastructure Contribution , டன்னி வேட்டைக்காரன் , டேவிட் ஹாரிசன் , ப்ராபர்டீ சபை , ப்ராபர்டீ சபை விக்டோரியன் , சாசனம் மண்டபம் குழு , ப்ரைம் அமைச்சர் , பொருளாதார முக்கியத்துவம் , ப்ராபர்டீ தொழில் , ஆஸ்திரேலிய பொருளாதாரம் , வளர்ச்சி பகுதிகள் உள்கட்டமைப்பு பங்களிப்பு ,

Property hit by $2.7b tax austerity plan in Victoria


Property hit by $2.7b tax austerity plan in Victoria
May 16, 2021 – 11.00pm
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The property sector is locked in last-minute crisis talks with key Victorian cross-benchers in an effort to block or revise a $2.7 billion property tax slug to be unveiled in Thursday’s state budget.
Economists have blasted the Andrews government for doubling down on stamp duty, the country’s worst tax, even after the NSW and Victorian treasurers agreed last year to look at ways to scrap the levy to help tackle the housing affordability crisis.
Homebuyers Jess and Andrew Johnson will be impacted by the stamp duty rise in the Victorian Budget.  ....

Anthony Webb , Ken Henry , Fiona Patten , Tim Pallas , Andrew Johnson , Anthony Albanese , Saul Eslake , Luis Ascui , Dominic Perrottet , Louise Kennerley , Danni Hunter , Justin Mcmanus , Joe Armao , Reason Party Mp Fiona Patten , Property Council , Property Council Victorian , Treasurer Tim Pallas , Australian Financial , New South Wales , Philipwebb Real Estate Anthony Webb , அந்தோணி வலை , கேன் ஹென்றி , பியோனா பட்டேன் , நேரம் பல்லாஸ் , ஆண்ட்ரூ ஜான்சன் , அந்தோணி அல்பானீஸ் ,

Victorian building industry takes $370 million hit from international student crisis


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Victoria’s building industry took a $370 million hit last year as the COVID-19 crisis locked international students out of Australia, causing cash-strapped universities to stop building, and apartment projects to stall.
The Property Council of Australia said the knock-on effects from the absence of overseas students had cost the state’s economy more than $1 billion and kept 13,000 Victorians out of work.
Raymond Mah of DKO Architects says the student accommodation building business has dried up.
Credit:Jason South
The Master Builders Association of Victoria has added its voice to calls from business, the education sector and local government for the state and Commonwealth to find a way to get Victoria’s $13 billion international education trade moving again, saying its absence is hurting the economy. ....

Australian Capital Territory , Danni Hunter , Property Council Victorian , Australian Bureau Of Statistics , Australian Bureau , Property Council , ஆஸ்திரேலிய மூலதனம் பிரதேசம் , டன்னி வேட்டைக்காரன் , ப்ராபர்டீ சபை விக்டோரியன் , ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் , ஆஸ்திரேலிய பணியகம் , ப்ராபர்டீ சபை ,